Oilsands saw major reserve writedown in 2016

CALGARY - The U.S. Energy Information Administration has highlighted how last year's oil price drop brought on a massive writedown of high-cost Canadian oilsands reserves. The EIA said in a brief Monday that data from 68 U.S.-listed companies shows their oilsands reserves dropped by a total of about 7.7 billion barrels, making up the vast majority of their 8.2-billion net reduction in commercially viable barrels globally. The writedowns came after the West Texas Intermediate oil price averaged US&dollar;43.44 per barrel in 2016, down 11 per cent from US&dollar;48.83 per barrel in 2015.U.S.

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A man has been charged after buying 18 barbeques at the wrong price with fraudulent gift cards from Home Depot stores in the GTA, and selling the grills online.

It all began in May, with BBQ season just around the corner.

Police allege the man would go into a Home Depot and remove the price tag from a $1,599 BBQ and swap it with the price tag of a $219.99 grill. At that reduced price, the man would allegedly purchase the barbeque with a “fraudulently obtained Home Depot gift card,” police said. He would then sell the grills online, it is alleged.

Police are also looking for a second man, believed to have been involved in the heist.

Jefferey Wilson, 42, has been charged with 18 counts of fraud under $5,000 and possession of property obtained by crime, over $5,000.

The next court date is Wed. June 28.

Price of steak is still sizzling, but relief may be on the way .
Retail beef prices remain elevated for the third summer in a row, but long-awaited growth in the size of the North American cattle herd should put a ceiling on additional price increases going forward, according to an industry group. After hitting record highs in 2015 and the first half of 2016, beef prices at Canadian meat counters eased somewhat in the fall of 2016.

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